By signing up for a plan (offered at four levels: Bronze, Silver, Gold, or Platinum) starting on October 1, you may receive government assistance in the form of a tax subsidy which can be used to significantly reduce the cost of these plans' premiums.

The Obamacare subsidy amount will remain the same regardless of which plan you choose, so the same subsidy will go further with a less expensive -- but likely less comprehensive -- plan.

But how much will you receive in subsidies?

Factors Determining Subsidy Amount

Just like the factors used to determine the cost of your premium, Obamacare uses certain key factors to determine how much government help you will receive in paying for your plan. Those factors include not only which state you're in, but also:

There are various third-party subsidy calculators available online. Prior to the opening of the health insurance exchanges on October 1, these calculators may be the best way to estimate your potential Obamacare subsidy.

Aside from the Obamacare subsidy, there are nine categories of individuals who are explicitly exempt from Obamacare's individual mandate. We'll explain who's exempt from the mandate as our "Understanding Obamacare" series continues tomorrow.